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	<title>New answer on: Is There Income Tax On Life Insurance?</title>

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		<title>By: Peggy Mace</title>

		<link>https://insurancelibrary.com/life-insurance/is-there-income-tax-on-life-insurance</link>

		<dc:creator>Peggy Mace</dc:creator>

		<pubDate>Sun, 04 Aug 2013 13:00:38 +0000</pubDate>

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		<description><![CDATA[Life insurance is not subject to income tax as long as it is left to a person or trust. If the life insurance beneficiary is the estate, or if the beneficiary is no longer alive and the proceeds end up going into the estate, then income tax will be paid on the life insurance.]]></description>

		

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		<title>By: Steve Savant</title>

		<link>https://insurancelibrary.com/life-insurance/is-there-income-tax-on-life-insurance</link>

		<dc:creator>Steve Savant</dc:creator>

		<pubDate>Sun, 04 Aug 2013 04:25:53 +0000</pubDate>

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		<description><![CDATA[Generally, tax free death benefit proceeds go directly to the policy beneficiary without taxation. However, permanent life insurance polices that accumulate cash values that exceed basis are subject to ordinary income tax if the contract is surrendered, lapsed or matures before the death of the policy insured. This includes any policy loans in any of these scenarios.]]></description>

		

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